Malaysia-based stationery manufacturer could be taken private by US private equity firm Texas Pacific Group (TPG) according to Senior vice president of corporate planning Ng Cheong Seng.

Seng said: “We’re talking to TPG right now. Nothing is confirmed as we’re exploring ways to structure the privatisation. We’re not desperately looking for a buyer, we’re committed to grow the business more,” he said. The take-private would be for MYR 1bn (USD 305m) -- a multiple of price-to-earnings of 8x to 9x -- and would be undertaken by TPG and other suitable investors. ”For investors who want short-term gains, sorry, we’re not interested,”

The plan has been on the drawing board since in 2005 and has no set deadline. It would give Pelikan the opportunity to focus on long-term goals, rather than managing quarter-to-quarter earnings expectations, explained Seng.